Go!, the upstart airline in Hawaii that managed to really piss off Aloha and Hawaiian, just announced that they lost $20 million in their first 16 months of operations. In case you had been wondering how an airline could make money charging $19 to fly between Honolulu and Lihue, you were correct to wonder: they wouldn’t make money doing that. Oh, and Aloha & Hawaiian managed to lose more than $60 million during the same time frame, certainly in part because of the depressed fares that hurt everybody.
So, new entrant comes in, 3 companies lose $80 million in 16 months. On the plus side, it’s really cheap to fly between the islands. On the downside, that’s because they’re not covering costs.